The speaker did not mention that this June 2026 hike was the first rate increase since 2023, following a prolonged cutting cycle that began in June 2024 and had brought rates down substantially from their 2023 peak of 4.00% (deposit rate) to 2.00% before the hike.
The claim does not specify the magnitude (25 basis points) or the context — notably that the hike was driven by the Iran war and its impact on energy prices and inflation expectations, as noted in the ECB's own press conference statement.
Sources
PrimaryEuropean Central Bank — Press Conference (Monetary Policy Statement)The Governing Council today decided to raise the three key ECB interest rates by 25 basis points. […] In line with this commitment, we today decided to raise the three key ECB interest rates by 25 basis points.
PrimaryEuropean Central Bank — Key ECB Interest RatesEffective 17 June 2026: Deposit Facility 2.25%, Main Refinancing Operations 2.40%, Marginal Lending Facility 2.65%. Previous rates effective 11 June 2025: Deposit Facility 2.00%, Main Refinancing Operations 2.15%, Marginal Lending Facility 2.40%.
PrimaryEuropean Central Bank — Monetary Policy DecisionsThe Governing Council decided to raise the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be increased to 2.25%, 2.40% and 2.65% respectively, with effect from 17 June 2026.
SecondaryCNBCThe European Central Bank announced a quarter-point rate hike on Thursday, bringing its key interest rate to 2.25% as the Iran war continues to fuel inflation. […] the first rate hike since 2023.